If the Probability of a Certain Event Is

question 9

Multiple Choice

If the probability of a certain event is .50 and the probability of a second event is .50, what is the probability of having the first event occur OR the second event occur?

• A) .25
• B) .50
• C) .75
• D) 1.00

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Definitions:

Purchase

The act of obtaining goods or services in exchange for money, which can be recorded as an asset or expense depending on its use.

Account

A record in financial accounting that tracks the increase and decrease of financial values, such as assets, liabilities, revenues, and expenses.

Revenues

The total income generated from normal business operations and before any expenses are subtracted.

Stockholders' Equity

The residual interest in the assets of a corporation that remains after deducting its liabilities. It represents ownership interest.